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AMCON Not In Discussion With Ethiopian Airlines Over Arik
  • Post by Admin on sunday, March 05, 2015






The management of Asset Management Corporation of Nigeria (AMCON) on Monday September 4, 2017 said it’s not in any discussion with Ethiopian Airline over Nigerian carrier Arik Airline.

According to a statement that was made available to Financial Edge by the head of corporate communication of AMCON Jude Nwauzor  “Our attention has been drawn to a barrage of media reports, which claimed that there are discussions going on with Ethiopian Airlines for the carrier to render management services to Arik. Contrary to these reports, the Asset Management Corporation of Nigeria (AMCON) is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik)”.

Nwauzor explained that Arik was placed in receivership last February, following the airline’s inability to repay debts in excess of N300 billion to AMCON and other creditors in Nigeria and around the world.

He pointed out that it is on record that the Receivership Team has within the period stabilised the operations of the airline, marked by stability of schedules; improved On-Time-Performance (OTP) and revamped customer service among others.

Stressing that today, the Airline has regained its dominance as the most reliable carrier in the country with growing passenger patronage and confidence. While he assured the general public and all stakeholders that they will be kept duly informed on issues relating to the airline's divestment plan.

Photo Caption: Managing Director of AMCON Ahmed Kuru 

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